US: Tough April weather lowers Urban Outfitters’ Q1 comps
Urban Outfitters' comparable-store sales were up during February and March, but dropped for the first quarter due to what the company characterised as a weather-related decline in April.
The Philadelphia, Pennsylvania-based specialty retailer reported Tuesday (8 May) that its same-store sales for the quarter were down 2% versus a 3% decline in last year's period. Comps were up 2% at Anthropologie and 8% at Free People, but dipped 5% at the Urban Outfitters unit.
On a net basis, sales were up 16.5% to US$314.5m from $270m in last year's quarter. By division, Urban Outfitters sales rose 10.9% to $129.9m, Anthropologie was ahead 18.7% to $118.6m, direct-to-consumer up 29.9% to $43.5m and Free People advanced 15.7% to $22.5m.
"Sales at all of our brands rose significantly during the first quarter, fuelled largely by new store growth and excellent results in the direct-to-consumer businesses," said Richard Hayne, chairman and president.
"The company produced positive total comp-store sales during the first two months of the quarter, but April was a difficult month due most to weather issues.
"With a return to more normal spring weather in the month of May, sales have rebounded nicely," he concluded.
The firm opened four new UO stores and two new Anthropoloogie units during the quarter and plans to open at least 38 stores during the current fiscal year. In addition to websites and catalogues, the firm operates 110 Urban Outfitters stores, 95 under the Anthropologie banner and eight Free People stores. Free People also operates a wholesale division.
The company will report its full results for the quarter on 10 May.
By Arnold J Karr.
Help test our new apparel sourcing tool.
Same-store sales at many US clothing and footwear chains are expected to rise for August, it has been reported....
George Pita has resigned as chief financial officer of Perry Ellis International, effective 18 June....
Glen Senk, president of the Anthropologie and Free People brands of Urban Outfitters, has been promoted to the new post of chief executive officer of the corporation....
Urban Outfitters, the Philadelphia, Pennsylvania-based operators of the Urban Outfitters, Anthropologie and Free People brands, intends to launch a fourth brand early next year....
Urban Outfitters Inc, the clothing and homewares retailer, has posted a flat fourth quarter profit and said a new chief executive officer is due to be elected in May....
Stephen Feldman will join Delia's as chief financial officer on 26 February. He will succeed John Holowko, who has resigned to pursue other interests....
Apparel retailer Urban Outfitters posted a 5% slip in comparable fourth-quarter sales compared to an 8% rise last year on mixed trading among its three nameplates....
The following is a general roundup of apparel and shoe chains' December 2006 sales results. The list will be updated as new results become available....
- Trump and the apparel industry – Infographic
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- American Apparel to shutter all stores?
- New project to digitalise European fashion chains
- Brands need to tackle Turkey factory refugee abuse
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016